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3 . Purpose of Loan: <br /> The purpose of the loan is to supplement the financing of an SBA <br /> loan and the capital investment of the owner, Kevin J. Kloeppner. <br /> 4 . Cost of Project: <br /> A) Land $ 27,300 <br /> B) Buildings (attach plans & costs) $ 77,700 <br /> C) Equipment/Machinery/Fixtures (attach list <br /> and estimated costs) $ 2,400 <br /> • D) Remodeling $ <br /> E) Industrial Inventory/Working Capital $ <br /> F) Other (attach description) $ <br /> TOTAL COSTS $ 107,400 <br /> 5 . Proposed Financing: <br /> SOURCE NAME TERMS AMOUNT <br /> First American 15 yrs. , NYP + <br /> A) Bank Loan-SBA Nat' l Bank-St. Cloud 2.75%, adj . qtly. $ 75,000 <br /> B) Bank Loan $ <br /> C) Other Private Funds $ <br /> D) Applicant Contribution $ 17,400 <br /> E) Other $ <br /> F) Fed Grant/Loan $ <br /> G) State Grant/Loan $ <br /> . 15 yrs, NYP + <br /> H) This Loan adi . semi-annually $ 15,000 <br /> TOTAL FINANCING $ 107,400 <br /> -2- <br /> Monthly Debt Service (P & I ) : SBA -$750, Elk River - $127 <br />